Revenues were record high at $211.1 million compared with $179.2 million in the prior-year quarter, beating the Zacks Consensus Estimate of $203 million. Non-GAAP net income during the quarter was $16.5 million or 20 cents per share compared with $20.3 million or 26 cents per share in the prior-year quarter, beating the Zacks Consensus Estimate by 11 cents. GAAP net loss in the quarter was $75.3 million or a loss of 99 cents per share compared with a net loss of $91.5 million or a loss of $1.24 per share in the prior-year quarter. The healthy results were backed by Coupa providing companies with visibility and control over their business spending, resiliency in back-office operations and aiding in making strategic and data-driven decisions to yield positive outcomes for their business. Both the bottom line and top line beat estimates. In early September, Coupa reported solid Q2 fiscal 2023 (ends January) results with record revenues and healthy momentum in the subscription business. The company’s procurement module aids customers to determine spend policies, and streamline purchase requisition and purchase order processes. The company's BSM platform unifies all business spend - from sourcing to contracts and invoicing to payments, thereby enabling enterprises to be more resilient and ultimately spend smarter.Ĭoupa Software is the pioneer of procure-to-pay solutions. Its cloud-based platform helps aid over 2,500 customers in mitigating supply chain risk and to increase business agility to adapt to change in spending trends.
Coupa Software COUP is one of the leading providers of Business Spend Management (BSM) solutions.
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